DXY at the brink. Lousy jobs Friday will push it over. Its Costanza Day for the AUD. The China/ Australia marriage. Gold poised. Metals lagging. Miners meh. EM meh. Junk meh. Yield relief. Bad news is good news. It a lousy ISM services and ADP that the market moving with hope of Fed relief. The
Last night saw the release of the latest US ISM services and private jobs data reports and both slumped below market expectations, halting the mini rally on Wall Street and tanking the USD once again. More talk but no resulting trade deals couldn’t lift King Dollar as the Trump regime patiently waits for the, let
The Australian Bureau of Statistics (ABS) valued education exports at $51 billion in 2023-24, suggesting a massive benefit to the Australian economy. The ABS estimates this astonishing export figure using “an average spend estimate from Tourism Research Australia … supplemented by the addition of total expenditure on course fees”. The ABS incorrectly classifies all international
The Q1 national accounts from the Australian Bureau of Statistics (ABS) were released on Wednesday, which revealed that per capita GDP fell back into negative territory following a brief respite in Q4 2024. Real per capita GDP declined by 0.2% in Q1. This represented the ninth quarterly decline in the past 11 quarters, with per
Its still all about the art of the deal as the Trump regime struggles to find anyone wanting to come to the table with more tit for tat accusations between China still not yet upsetting risk markets. Currencies are in a holding pattern, digesting a lot of macro events and geopolitics with tonight’s Canadian central
There goes the hope for curing all of the East Coast’s energy problems. Prime Minister Anthony Albanese has praised Western Australia’s domestic gas reservation scheme and says his government already has the power to force producers to sell to the local market on the east coast. …Albanese on Tuesday sought to distance any arrangement Labor
On Tuesday, the Fair Work Commission (FWC) decided to lift the national minimum wage and award wages by 3.5% from 1 July this year. The key justification given for the decision was to provide some real wage catch-up. Business groups met the decision with their usual backlash, claiming that higher minimum and award wages would
Today’s Q1 national accounts from the Australian Bureau of Statistics (ABS) revealed that Australians lurched back into recession, with per capita GDP growth declining by 0.2% over the quarter: Per capita GDP has declined in nine of the last 11 quarters, down a total of 1.7% over that period. The overall economy also grew by
The Market Ear on the hated rally. …to start talking about all time highs? NASDAQ trading right on those huge levels. Source: LSEG Workspace Stopped in “Net leverage for the full PB book rose more than +8 pts in May, the largest monthly increase on our record, driven by large global net buying and mark-to-market“.
NSW Opposition Leader Mark Speakman has accused Premier Chris Minns of blaming federal tobacco taxes for the fact that the illegal tobacco trade in the state is “out of control”. Minns has suggested that cutting tobacco taxes would lead to a reduction in black market tobacco activity, leaving NSW Police with more resources to combat